[Federal Register Volume 70, Number 66 (Thursday, April 7, 2005)]
[Notices]
[Pages 17729-17730]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-1601]
[[Page 17729]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-27955]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
April 1, 2005.
Notice is hereby given that the following filing(s) has/have been
made with the Commission pursuant to provisions of the Act and rules
promulgated under the Act. All interested persons are referred to the
application(s) and/or declaration(s) for complete statements of the
proposed transaction(s) summarized below. The application(s) and/or
declaration(s) and any amendment(s) is/are available for public
inspection through the Commission's Branch of Public Reference.
Interested persons wishing to comment or request a hearing on the
application(s) and/or declaration(s) should submit their views in
writing by April 26, 2005, to the Secretary, Securities and Exchange
Commission, Washington, DC 20549-0609, and serve a copy on the relevant
applicant(s) and/or declarant(s) at the address(es) specified below.
Proof of service (by affidavit or, in the case of an attorney at law,
by certificate) should be filed with the request. Any request for
hearing should identify specifically the issues of facts or law that
are disputed. A person who so requests will be notified of any hearing,
if ordered, and will receive a copy of any notice or order issued in
the matter. After April 26, 2005, the application(s) and/or
declaration(s), as filed or as amended, may be granted and/or permitted
to become effective.
Cinergy Corp.
[70-10287]
Cinergy Corp., (``Cinergy''), 139 East Fourth Street, Cincinnati,
Ohio 45202, a registered holding company has filed an application-
declaration (``Application'') under sections 6(a), 7, 9(a), 10 and
11(b)(1) of the Act and rule 54 under the Act.
By order dated October 23, 2002 in File No. 70-10015, HCAR No.
27581 (``2002 Order''), the Commission authorized Cinergy to invest up
to $500 million through March 31, 2005 in new or existing non-utility
companies (``IS Subsidiaries'') that derive or would derive
substantially all of their operating revenues from the sale of
Infrastructure Services (as hereinafter defined) both within and
outside the United States, while reserving jurisdiction over
investments by Cinergy in IS Subsidiaries that would provide
Infrastructure Services outside the United States.
As defined in the 2002 Order, and for purposes of the Application,
``Infrastructure Services'' include design, construction (as defined in
rule 80(c) under the Act), retrofit and maintenance of utility
transmission and distribution systems; substation construction;
installation and maintenance of natural gas pipelines and laterals,
water and sewer pipelines, and underground and overhead
telecommunications networks; and installation and servicing of meter
reading devices and related communications networks, including fiber
optic cable; provided, however, that Infrastructure Services would
under no circumstances include the acquisition or ownership of
``utility assets'' within the meaning of section 2(a)(18) of the Act.
Cinergy now requests authority to invest, directly or indirectly
through one or more subsidiaries, up to $100 million (including
existing investments, the ``Investment Cap'') from time to time through
December 31, 2008 (``Authorization Period''), in new or IS Subsidiaries
that derive or would derive substantially all of their operating
revenues from the sale of Infrastructure Services both within and
outside the United States. The Investment Cap would include Cinergy's
existing investments in IS Subsidiaries on the date of any order issued
by the Commission's in regard to the Application.\1\ Cinergy requests
that the Commission reserve jurisdiction, pending completion of the
record, over Cinergy's proposal to invest in any IS Subsidiary that
derives or will derive a substantial portion of its operating revenues
from the sale of Infrastructure Services outside the United States.
Cinergy states that the requested authority is necessary to enable
Cinergy to continue to operate and develop the Infrastructure Services
businesses previously authorized by the Commission in the 2002 Order.
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\1\ Cinergy states that at December 31, 2004 it had invested
approximately $30 million in IS Subsidiaries.
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Currently, Cinergy has four IS Subsidiaries: (i) Cinergy Supply
Network, Inc., a Delaware corporation (``CSN''), which does not engage
in an active business but is solely a holding company for Cinergy's
other IS Subsidiaries:\2\ (ii) Reliant Services, LLC (``Reliant''), an
Indiana limited liability company owned jointly and equally by CSN and
a subsidiary of Vectren Corporation. Reliant provides line locating and
meter reading services to utilities and through its wholly-owned
indirect subsidiary, Miller Pipeline Corporation, installs, repairs and
maintains underground pipelines used in natural gas, water and sewer
systems. Reliant operates throughout the United States with its
customer base primarily concentrated in the Midwest. (iii) MP
Acquisition Corp., an Indiana corporation (``MP''), is a direct wholly-
owned subsidiary of Reliant that engages in no active business but
rather is solely a holding company for Miller Pipeline Corporation;
(iv) Miller Pipeline Corporation, an Indiana corporation (``Miller
Pipeline'') and a direct wholly-owned subsidiary of MP that installs,
repairs and maintains underground pipelines used in natural gas, water
and sewer systems. Miller Pipeline operates throughout the United
States with its customer base primarily concentrated in the Midwest.
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\2\ CSN has one subsidiary, Fiber Link, LLC, an Indiana limited
liability company, that is not an IS Subsidiary but rather is an ETC
as certified by the Federal Communication Commission. Fiber Link
holds conduit inventory for sale to the telecommunications industry.
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Investments in any IS Subsidiary may take the form of an
acquisition, directly or indirectly, of the stock or other equity
securities of a new subsidiary or of an existing company and any
subsequent purchases of additional equity securities and any loans or
cash capital contributions to any such company. In addition, any
guarantee provided by Cinergy in respect of any payment or performance
obligation of any IS Subsidiary would be counted against the Investment
Cap. Cinergy will fund investments in IS Subsidiaries using available
cash or the proceeds of financings, as authorized in HCAR No. 27190
(June 23, 2000) or any supplemental or superseding financing order
issued to Cinergy during the Authorization Period.
Cinergy states that it will not seek recovery through higher rates
to its utility subsidiaries' customers for any losses Cinergy may
sustain, or any inadequate returns it may realize, in respect of its
investments in IS Subsidiaries, and that any Infrastructure Services
performed by any IS Subsidiaries, directly or indirectly, for any
associate or affiliate utility companies (as those terms are defined in
the Act) would be conducted at cost and otherwise in accordance with
the service agreements approved by the Commission in HCAR No. 27016,
(May 4, 1999).
[[Page 17730]]
Cleco Corp.
[70-10268]
Cleco Corporation (``Cleco Corp.''), 2030 Donahue Ferry Road,
Pineville, LA, a Louisiana corporation and a holding company exempt
under section 3(a)(1) of the Act, has filed an application under
sections 9(a)(2) and 10 to retain its ownership interest in Perryville
Energy Partners, LLC (``Perryville''), upon Perryville's loss of status
as an exempt wholesale generator (``EWG'') under the Act.
Cleco Corp. is the parent company of Cleco Power LLC (``Cleco
Power''), a Louisiana limited liability public-utility company that
provides electric utility service in central and southeastern
Louisiana. Cleco Corp. also is the indirect owner, through its
subsidiary companies Cleco Midstream Resources LLC and Perryville
Energy Holdings LLC of Perryville, which owns a 718-megawatt generating
facility as well as interconnection facilities used to connect the
facility to the transmission system of Entergy Louisiana (``Entergy
LA''). Perryville has entered into an agreement to sell the generating
facility to Entergy LA (although it will retain ownership of the
interconnection facilities). Following the sale, Perryville will no
longer own generating facilities, will cease to qualify as an EWG, and
will become a public-utility company, as defined in section 2(a)(5) of
the Act.
For the Commission by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-1601 Filed 4-6-05; 8:45 am]
BILLING CODE 8010-01-P